How to introduce Ethereum to the general public?

social
#1

Whenever I wanted to explain and/or introduce Ethereum to someone, I’m always struggling to explain the high-level concepts without first delving into Bitcoin, Blockhain, and Decentralization.

Here is the latest definition according to the Ethereum.org website:

Ethereum is a global, open-source platform for decentralized applications

Even from a developer’s perspective (ones that haven’t been exposed to crypto), the definition doesn’t really sound inspiring:
“Global and open source? Okay. Decentralized apps? Something peer to peer like Torrent?”
"Well, yeah, except you can run any kinds of programs on it. Also there is this programmable money like Bitcoin called Ether that is [insert tedious explanations here] "
“…Okay? Any current practical use cases?”
Which is a good question. What are the available and practical Ethereum projects that could spark their curiousity? Dai (and DeFi in general), and Augur are the first ones that come to my mind.

Do you guys have a practical method for introducing Ethereum to the masses? Perhaps multiple methods specifically tailored depending on the audiences?

Related topic.

2 Likes
#2

I think it’s helpful to initially frame the discussion around what’s actually at the center of crypto, which is trust. Start at a high level and go over the way most of the world is structured today. We have these large, opaque, siloed corporations which wholly own and dictate the platforms and products they build, and ultimately we as users have to trust them to do what they say they will. If they want to change the rules, they do. If they want to up their fees, censor specific info/content, or restrict access - they do. If you want to build something on their infrastructure, get ready to go through the lengthy and expensive process of inking a business deal and waiting for access. As more and more of our lives become digital in one way or another, these platform owners begin to amass an incredible amount of power and influence. And we’re simply along for the ride as users.

Ethereum is largely changing the relationship the user has with a given service/product/platform. Instead of having to go to the gates of some application and knock on the door asking to be let in, and once admitted be at the whim of some boardroom somewhere, a person can just start using and building with much more confidence that the system/service/product they signed up for, will remain as such. Essentially everything of value within the space is open and requires zero permission to use.

I think DeFi is one of the best things you can highlight in this context. This idea of DeFi smart contracts as ’money LEGOs’ is a very good one to share. People can draw upon all the past work of the community and pick and choose different contracts, using them in all sorts of new ways to offer new products/services. You can point to all the base-level financial products that are being created - debt, derivatives, baskets/indexes, exchanges, etc. Especially in parts of the world with less financial stability, there is a real need for a politically neutral and globally accessible financial system.

Hope this helps! Also welcome to the community!

3 Likes
#3

Great question. I usually fumble around looking for the proper context and generally find that nobody is listening 5 minutes later :slight_smile:

#4

It dawned on me that I know what Decentralized Finance is. Most people I know don’t. I’m not exactly running around telling everyone I know about it. Telling people how to invest their money isn’t really how I socialize, and I think that can be said for a large number of people. How do we expect our ecosystem to grow if you have to be in it already to learn about all the cool stuff happening here.

Beyond that, all that stuff about Trust, Censorship Resistance, and Programmable Money are abstract. Its hard to conceptualize when you don’t use this stuff. APR on the other hand, is easily understandable by most people.

I think it would be worth while to design a poster that links to educational resources / on-boarding tour, focused on Decentralized Finance tools.

Things like how you can buy DAI and stake it to earn interest, and what those options are. Something simple and focused on strictly ‘stable’ value investing.

Some info on the benefits of taping into the ethereum network.

Distribute that poster via social media with instructions to print 3 and leave them on local community boards. People outside of our space see that. People outside our space are interested in ways they can save up value more effectively, and are down to take risks. Many just don’t know how, and don’t know who/how to ask.

Thinking it would cover the sections:

  • On Ramps
  • Transfers
  • Securing Private Keys
  • Stable Coins
  • Lending
  • Payments
  • DEX
#5

I was discussing lending on different platforms at a wedding, it got more financially savvy people interested. The idea that they can basically earn a collateralized 8-11% was interesting without the risks of an unsecured loan like LendingClub.

1 Like